Hearst's announcement that it has entered into an agreement to acquire the Austin American-Statesman from Gannett Co., Inc. gives the newspaper coverage of three of Texas's biggest cities.
The company already owns the Houston Chronicle and San Antonio Express-News, as well as the Beaumont Enterprise, Midland Reporter-Telegram, and Laredo Morning Times.
“This acquisition complements Hearst's set of newspapers and reinforces our commitment to delivering high-quality journalism,” said Jeff Johnson, president of Hearst Newspapers. “It aligns with our strategy to invest in thriving communities with strong potential. We look forward to welcoming the Austin American-Statesman team to Hearst, joining 2,300 committed Hearst Newspapers professionals across the country.”
Hearst has no presence in the Dallas - Fort Worth Metroplex.
The announcement, made by Hearst President and CEO Steven R. Swartz and Gannett Chairman and CEO Mike Reed did not include terms of the deal.
The transaction is expected to close in the first quarter.
Founded in 1871, the Austin American-Statesman has been named Texas Newspaper of the Year three times by the Texas Associated Press Managing Editors and was recently recognized as a 2023 Pulitzer Prize finalist for Public Service and a 2024 Edward R. Murrow Award winner.
The Statesman is currently part of Gannett’s USA TODAY Network, which includes more than 200 local publications nationwide.
Hearst Newspapers, the division overseeing Hearst’s newspaper operations, local digital marketing services, and directories, publishes 26 daily and 52 weekly newspapers across the U.S.
“Hearst has a stellar reputation in the publishing industry and their values are uniquely aligned with ours,” said Michael Reed, Gannett Chairman and Chief Executive Officer. “The sale of the Austin American-Statesman from our portfolio is a strategic decision that will complement the Hearst brand while positioning Gannett and the USA TODAY Network of more than 200 local publications for future growth. We are confident Hearst will be a great home for our Statesman colleagues.”
